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Welcome to CycloneFanatic.com. I notice you haven't taken the time to register yet, now is as good of time as any:)

Have you refinanced your mortgage yet?

I'll have to admit, when I refinanced our mortgage back in Dec 2008 at 5%, I figured I'd never see a lower interest rate while we owned our current house...or maybe in my lifetime. Because of that, I really didn't pay any attention to current rates.

Well, something got me thinking about this a month ago, so I figured I'd at least see what rates were doing. Boy, I'm glad I did. I knew they were lower, I just didn't realize how much.

If you haven't looked at rates lately, I recommend you do so. We'll be dropping down from 5% for a 30 yr, to a 3.125% for a 15yr. (note: staying with a 30yr, could have still gotten an int rate just below 4%). Never thought I'd see the day.

Note: I'm not in the biz, so I'm not pushing any bank. I just simply refinanced with the mortgage company that holds our current note.

Re: Have you refinanced your mortgage yet?

Bernanke has stated publicly that they will keep short term rates near zero through 2014, though there are many other factors.

But the fact is, housing still stinks, so until it shows some signs of life, I wouldn't expect much upward movement.

Considering the Fed now backstops 85%+ of all mortgages written in the US, they will want to see a housing recovery before rates go up.

After everyone gets their 4% mortgage, how many people would then get a 7% mortgage to get a different house in 2015. Exactly. Times are golden now, but everyone will have too good of a mortgage to justify another move...

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